Providence Resources Share Discussion Threads

[hermana3] 30/11/2017 14:52

Wee piece in Phoenix Magazine today highlighting £21m valuation for a company with £36m in cash. Absurd when you consider the potential of appraisal drills at Spanish Point and Barryroe(which Phoenix say will be farmed down in current upward cycle in the Sector). Points out their surprise that PVR went for wildcats last Summer when appraisals looked much more likely to pay off. In reality PVR were forced by investors in massive placing to drill Druid/Drombeg. Was a condition of the fundraiser.

[spuddymadrid] 30/11/2017 14:27

Thanks Papillon.

[greatfull dead] 30/11/2017 14:26

Steel and Herm,

A 50p offer for PVR would do me nicely.

ATB,
GD

[papillon] 30/11/2017 13:40

spuddymadrid 29 Nov '17 - 19:53 - 53744 of 53752 0 0
But the seismic information is not. Cathal Friel retired from active involvement with Amryt and now has time on his hands. Fastnet spent 30m on these surveys. Think deep kinsale is in fact also deep barryroe. Fastnet estimated 3bn barrels plus in deep kinsale

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

The Fastnet Celtic Sea seismic was put into a trust fund for the benefit of FAST shareholders on the share register on the 16th December 2015, spuddymadrid. The trust fund was loaned money by the company to enable it to exist for a certain number of years. To the best of my knowledge that trust fund still exists and has not yet been wound up, but it was set up with a definite "shelf life". The intention was to sell the seismic and distribute the proceeds, after first returning the borrowed money to the company (now called AMYT), to FAST shareholders on the register on 16/12/15. To the best of my knowledge that seismic has yet to be sold.

[steelwatch] 30/11/2017 11:43

herm - too true mate. Freezin' 'ere! UT was 40p at open btw.

[hermana3] 30/11/2017 11:40

CP, Bet Board wouod hold out for a high price and wont recommend anything under 50p! SQZ coming back to market strong today and Steel will be rubbing de old mitts. I forecasted 56p on return and for once was on conservative side....

[currypasty] 30/11/2017 10:24

another 100k for me, cant see much downside from 6.5p, and any whiff of progress should move up hard. Surprised an all share offer hasn't been made from someone who can push this along, and pocket the cash.

[spuddymadrid] 30/11/2017 07:39

Wish I was but have to be right sometime

[funtimejonny] 30/11/2017 05:58

I hope you are party to some insider info Spuddy!

[spuddymadrid] 29/11/2017 20:43

Reckon we will get some interesting news shortly

[funtimejonny] 29/11/2017 20:29

That is a very interesting question Spuddy. Defo one for the accountants! I hope that potential incoming parties have their heads around that. Knowing the younger generation...they have probably missed it entitely.

[spuddymadrid] 29/11/2017 19:56

Any idea apart how much Landsdowne has spent on exploration drills to date. Landsdone came from Ramco. Is that correct. If so are the driiling expenses incurred by Ramco also recoverable against future production by Landsdowne

[spuddymadrid] 29/11/2017 19:53

But the seismic information is not. Cathal Friel retired from active involvement with Amryt and now has time on his hands. Fastnet spent 30m on these surveys. Think deep kinsale is in fact also deep barryroe. Fastnet estimated 3bn barrels plus in deep kinsale

[hermana3] 29/11/2017 19:34

Fastnet licences are long in the knacker's yard!

[spuddymadrid] 29/11/2017 19:19

You are correct Steelwatch. So they will wait for Chinese to drill Diablo Ridge before further drilling or not ar Diablo. Hermana believes Cairn will take up
Option in Avalon. Agree on this bit think
There may be an announcement on Newgrange and or Barryroe as well. It would make sense for Total and or Cairn to farm into Barryroe, buy Landsdowneor something like that and write off drilling exploration costs. Can this be done against Barryroe. Also think Fastnet acerage at deep kinsale plus seismics will come into play

[hermana3] 29/11/2017 18:33

Cairn will take up Avalon!

[steelwatch] 29/11/2017 17:35

spuddy - confusing I know, but isn't Cairn fully farmed in to FEL 2/14 which includes Diablo Ridge?





Could be missing something?

[spuddymadrid] 29/11/2017 17:04

Cairn and Total have 60 days to confirm continued involvement in Diablo acerage and Cairn to confirm Avalon. So I doubt they are waiting until day 60 to confirm a decision that I am sure is already taken one way or the other. Wondering if Cairn and Total are not also looking at newgrange and Barryroe. Another thing somebody may be able to answer. Could Total and Cairn offset costs at Druid Drombeg against a theoretical farm in and eventual production at Barryroe. If so it may suit them
To continue exploring and write all costs off against Barrroe !!

[greatfull dead] 29/11/2017 15:17

Herm,

I am staying clear of LOGP. As I posted before I will add to my PVR holdings.

ATB,
GD

[hermana3] 29/11/2017 15:07

GD,Lansdowne on losers list today as market realises that a farmout could take longer....

[greatfull dead] 29/11/2017 12:03

Herm,

Fact of life. We all get older and slow up. Some more than others. That said two thinks I have found have help me.

1.Portfolio diversification.
2.Don't use a wheel chare. A walking stick is better, though I only use one when out shopping. More exercise helps the ticker and a few other body parts!

A few scenarios. Food for thought.

1.Barryroe farm-out delayed again. (I personally feel it will happen early next year).
2.PVR will be bought out/taken over for its assets and huge dada base. The buyout price IMHO would be at least 30p+ if not a lot more.

I fortunately got in below the sell price. So either way I will make money.

ATB,
GD

[hermana3] 28/11/2017 18:50

Curry, Lord Westmoreland barely got his 'ead off de pillow today! The old boy is slowing up....

[currypasty] 28/11/2017 16:55

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herm, this is my list of trades for today...lol

[hermana3] 28/11/2017 15:57

Curry, Were you the opening buy today? Wouldnt catch his Lordship out shopping for owt at dat ungodly hour for sure.....

[hermana3] 28/11/2017 15:54

CP,Knew you were getting a wee nit twitchy. Is his Lordship off on another cruise for miniskirt????
1Cag, Jimmy has done some turnaround for sure!!!! Never guessed he was so inclined....